- with readers working within the Business & Consumer Services industries
Background
The Conduct of Business rules, (including COBS, ICOBS, MCOB and BCOBS sourcebooks) provide specific requirements which firms must meet; these requirements have a direct impact on the treatment of customers; however these rules cannot provide complete coverage of regulated firm's activity.
The FCAs Principles for Businesses specify that "A firm must pay due regard to the interests of its customers and treat them fairly." (PRIN 2.1.1 Principle 6); this is a principle which, in theory does provide coverage of all aspects of a firm's activities which have an impact on customers.
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Conduct Risk - Developing and maintaining an effective framework (PDF)
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
